This is the first time I do 3 charts in a row, but in this situation, I believe it is needed to reassure the people who got into the trade.
My previous trade is still valid, however, we took a different path, and we are now forming a bullish triangle. Why bullish ? :
- We are above the EMA lines
- EMA lines just crossed as we speak to the bullish momentum
- We're not dropping back to previous levels, which means we are in heavy accumulation phase
- We are going up over time if you look at the larger time frame
A move has to happen very soon, and all those indicators are signaling bullish. Every trade has risks, but this is a trade I took, because I believe the risk is lower than others.
The trading strategy will be the following :
- I put a sell order around 0.00167 for a first break out, trying to anticipate a cup and handle formation.
- I will rebuy the, very short, dip, around 0.00155
- I will set my sell order around the KIJUN retest level, which now corresponds to approx 0.0022 ish
Good luck
My previous trade is still valid, however, we took a different path, and we are now forming a bullish triangle. Why bullish ? :
- We are above the EMA lines
- EMA lines just crossed as we speak to the bullish momentum
- We're not dropping back to previous levels, which means we are in heavy accumulation phase
- We are going up over time if you look at the larger time frame
A move has to happen very soon, and all those indicators are signaling bullish. Every trade has risks, but this is a trade I took, because I believe the risk is lower than others.
The trading strategy will be the following :
- I put a sell order around 0.00167 for a first break out, trying to anticipate a cup and handle formation.
- I will rebuy the, very short, dip, around 0.00155
- I will set my sell order around the KIJUN retest level, which now corresponds to approx 0.0022 ish
Good luck
Comment:
FOR THE INFO : The trend lines that are on this, are the same trend lines I drew that I kept from my previous chart. Those are not the current trend lines!
Comment:
This is quasi confirmed. I am thinking of canceling the cup and handle trade, I believe if it moons, it's going to one shot. Might aswell just put my sell order now around 0.0021
Comment:
Looks really good. I don't know how to embed charts in comments, but I updated my chart with the correct trend lines, and modified the fib lines.
Comment:
I have no idea what's going on lol, BUT it looks really good, why ? Because overtime, Lunyr has gained price and has not dropped back to previous prices
Comment:
Still not over, target changed to 0.00190
Trade closed: target reached:
I am closing this trade. It can go way higher, but as a trader, I stick with the "no greed" formula
However, this is still a good long term hold, as we are near the bottom. I will not sell if this fails.